As of Wednesday close, Manulife Financial Corporation’s (NYSE:MFC) stock was down -$0.18, moving down -0.92 percent to $19.42. The average number of shares traded per day over the past five days has been 3,294,580 shares. 5 times new highs have been achieved over the past 5 days, with a $0.57 gain in that time frame. In the last twenty days, the average volume was 3,450,790, while in the previous 50 days, it was 3,436,260.
Since last month, MFC stock rose 8.49%. Shares of the company fell to $17.49 on 08/22/23, the lowest level in the past month. A 52-week high of $20.40 was reached on 02/16/23 after having rallying from a 52-week low of $14.92. Since the beginning of this year, MFC’s stock price has risen by 8.86% or $1.58, and marked a new high 15 times. However, the stock has declined by -4.80% since its 52-week high.
Valuation Metrics
Right now, Manulife Financial Corporation (MFC) has a P/E ratio of about 9.16. The stock’s beta is 1.10. Besides these, the trailing price-to-sales (P/S) ratio of 1.24, the price-to-book (PB) ratio of 1.24, and the price-to-cash flow ratio of 2.49 may also be considered.
The latest dividend of $0.2760 per share was paid out, which is 2.6% more than last year’s $0.2690. On Wednesday August 9 2023, a $0.0070 dividend increase was announced.
Financial Health
According to company report, the long-term debt-to-equity ratio for the quarter ending June 29 was 0.33, and the total debt-to-equity ratio was 0.33. In the year ended June 29, operating margins totaled 20.10%. Based on annual data, MFC earned $6.73 billion in gross profit and brought in $13.19 billion in revenue.
A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was 16.30%. Return on equity (ROE) for the past 12 months was 12.80%.
According to the earnings report, the company had a lower net income in the recent quarter than it did in the previous quarter. MFC’s revenue rose 51.02% during the quarter, while net income inched up to $60.95 billion. While analysts expected Manulife Financial Corporation to report $0.58 quarterly earnings, the actual figure was $0.62 per share, beating the consensus estimate by 6.90%. During the quarter, the company generated $4.96 billion in EBITDA.
Technical Picture
This quick technical analysis looks at Manulife Financial Corporation’s (MFC) price momentum. With a historical volatility rate of 14.92%, the RSI 9-day stood at 68.26% on 20 September.
With respect to its five-day moving average, the current Manulife Financial Corporation price is up by +3.02% percent or $0.57. At present, MFC shares trade +10.53% above its 20-day simple moving average and -0.10% percent below its 100-day simple moving average. However, the stock is currently trading approximately +4.63% above its SMA50 and +7.17% above its SMA200.
Stochastic coefficient K was 91.40% and Stochastic coefficient D was 94.73%, while ATR was 0.28. Given the Stochastic reading of 80.54% for the 14-day period, the RSI (14) reading has been calculated as 62.88%. As of today, the MACD Oscillator reading stands at 0.35, while the 14-day reading stands at 0.56.
Analyst Ratings
Credit Suisse launched its rating on Manulife Financial Corporation (NYSE: MFC) to a Neutral in a note to investors on January 12, 2023. Manulife Financial Corporation (MFC) has been rated Overweight by analysts. According to 1 brokerage firm, MFC is a sell, and 7 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 3 analysts rate Manulife Financial Corporation stock as buy, with 4 recommending it as overweight.
With a median target price of $21.38, the current consensus forecast for the stock is $17.66 – $24.62. Based on these forecasts, analysts predict Manulife Financial Corporation (MFC) will achieve an average price target of $21.49.
